SUNSHINE PICTURES LIMITED IPO — Subscription & GMP
- Price band
- ₹342 – ₹360
- Lot size
- 41
- Issue size
- ₹197.5 Cr
- Bidding
- 18 Aug 2026 → 20 Aug 2026
- Allotment
- —
- Listing
- 25 Aug 2026
Listing outcome
Official exchange pricesGMP was out by 9.5 percentage points against the buyer — it implied +19.44% and the issue listed +9.97%. Counted in our running GMP accuracy record.
Schedule
- 18 Aug 2026IPO open date
- 20 Aug 2026IPO close date
- 21 Aug 2026Allotment date†
- 21 Aug 2026Funds unblock or debit†
- 25 Aug 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsBusiness Model of Sunshine Pictures Limited
Sunshine Pictures Limited operates as a prominent Indian media and entertainment production house, engaged in originating, creating, developing, producing, marketing, and distributing commercial films, television serials, and web series. Led by promoters Vipul Amrutlal Shah and Shefali Vipul Shah, the studio is known for successful cinematic franchises like Force and Commando, as well as highly recognized titles like The Kerala Story and the web series Human.
- Core Offerings: The company creates content across various formats, leveraging an internal talent pool and advanced production technologies to handle multiple large-scale shoots simultaneously.
- Multi-Channel Revenue Monetisation: Sunshine Pictures mitigates the hit-based, cyclical nature of the box office by ensuring its projects capture value across multiple platforms, preventing over-reliance on a single medium. Its primary income sources include domestic and international theatrical distribution, digital licensing to OTT platforms (such as Disney+ Hotstar, Netflix, and Zee5), satellite broadcasting rights, and music rights.
- Strategic Co-Production Model: To scale its operations while controlling financial exposure and capital risks, the company frequently engages in sole and co-production deals with major film studios, such as Jio Studios.
- Franchise Building: A significant strategic pillar of its business model is its focus on creating repeatable, franchise-oriented content. Establishing serialized action titles like the Force and Commando series provides audience familiarity and helps secure steady distribution channels.
Official source: Basis of Issue Price / ratios filing (NSE) — carries P/E, RoNW and EPS pre and post issue as filed.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 799 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 15.67 L | 16.21 Cr | 103.39× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 1.79 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 9.08 Cr | — |
| 1(c)Mutual funds | — | 0 | — |
| 1(d)Others | — | 5.34 Cr | — |
| 2Non Institutional Investors | 11.76 L | 17.11 Cr | 145.57× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 7.84 L | 11.63 Cr | 148.36× |
| 2.1(a)Corporates | — | 14.25 L | — |
| 2.1(b)Individuals(Other than RIIs) | — | 11.09 Cr | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 3.92 L | 5.49 Cr | 139.99× |
| 3Retail Individual Investors(RIIs) | 27.43 L | 11.75 Cr | 42.84× |
| 3(a)Cut Off | — | 10.04 Cr | — |
| 3(b)Price bids | — | 1.71 Cr | — |
| Total | 54.86 L | 45.07 Cr | 82.16× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹342 → ₹360 · peak 58.15 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
Anchor allocation report (NSE)
This issue’s anchor letter was filed as a scanned image with no text layer, so the allocation table cannot be read without OCR. We link the filing rather than publish figures we cannot verify.
Equity split
Fresh equity vs offer for sale- Fresh equity
- ₹172.80 Cr 61.3%
- Offer for sale
- ₹109.34 Cr 38.8%
- Total issue size
- ₹282.14 Cr
Read from the issue size stated in NSE's filing. The filing quotes the offer for sale as 30.37 L shares rather than a rupee amount, so it is valued here at the cap price of ₹360 — the final figure moves with the issue price.
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹342 – ₹360
- Lot size
- 41 shares
- Min. bid quantity
- 41
- Face value
- ₹10.00
- Tick size
- ₹1.00
- Shares offered
- 54.86 L
- Issue size
- ₹197.5 Cr
- Max bid · QIB
- 54.86 L
- Max bid · NII
- 39.19 L
Timeline & process
- Bidding opens
- 18 Aug 2026
- Bidding closes
- 20 Aug 2026
- Bidding hours
- 10.00 am to 5.00 pm
- UPI mandate cutoff
- 20-August-2026 (Upto 5.00 pm)
- Allotment
- —
- Listing
- 25 Aug 2026
Intermediaries
- Registrar
- Bigshare Services Private Limited
- Sponsor bank
- ICICI BANK
- Lead managers
- GYR CAPITAL ADVISORS PRIVATE LIMITED